Amendment: SEC Form SC 13G/A filed by Cidara Therapeutics Inc.

 UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13G

(Rule 13d-102)

INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT

TO RULES 13d-1(b), (c), AND (d) AND AMENDMENTS THERETO FILED

PURSUANT TO RULE 13d-2(b)

(Amendment No. 6)¹

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

1              The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

(1) Includes 61 Shares (as defined below) underlying certain Series X Preferred Stock (as defined below).

(1) Includes 61 Shares underlying certain Series X Preferred Stock.

(1) Includes 61 Shares underlying certain Series X Preferred Stock.

(1) Includes 61 Shares underlying certain Series X Preferred Stock.

(1) Includes 61 Shares underlying certain Series X Preferred Stock.

(1) Includes 61 Shares underlying certain Series X Preferred Stock.

Cidara Therapeutics, Inc., a Delaware corporation (the “Issuer”).

6310 Nancy Ridge Drive, Suite 101

San Diego, California 92121

Biotechnology Value Fund, L.P. (“BVF”)

44 Montgomery St., 40th Floor

San Francisco, California 94104

Citizenship: Delaware

BVF I GP LLC (“BVF GP”)

44 Montgomery St., 40th Floor

San Francisco, California 94104

Citizenship: Delaware

Biotechnology Value Fund II, L.P. (“BVF2”)

44 Montgomery St., 40th Floor

San Francisco, California 94104

Citizenship: Delaware

BVF II GP LLC (“BVF2 GP”)

44 Montgomery St., 40th Floor

San Francisco, California 94104

Citizenship: Delaware

Biotechnology Value Trading Fund OS LP (“Trading Fund OS”)

PO Box 309 Ugland House

Grand Cayman, KY1-1104

Cayman Islands

Citizenship: Cayman Islands

BVF Partners OS Ltd. (“Partners OS”)

PO Box 309 Ugland House

Grand Cayman, KY1-1104

Cayman Islands

Citizenship: Cayman Islands

BVF GP Holdings LLC (“BVF GPH”)

44 Montgomery St., 40th Floor

San Francisco, California 94104

Citizenship: Delaware

BVF Partners L.P. (“Partners”)

44 Montgomery St., 40th Floor

San Francisco, California 94104

Citizenship: Delaware

BVF Inc.

44 Montgomery St., 40th Floor

San Francisco, California 94104

Citizenship: Delaware

Mark N. Lampert (“Mr. Lampert”)

44 Montgomery St., 40th Floor

San Francisco, California 94104

Citizenship: United States

Each of the foregoing is referred to as a “Reporting Person” and collectively as the “Reporting Persons.”

Common Stock, par value $0.0001 per share (the “Shares”)

171757206

As of the close of business on September 30, 2024, the Reporting Persons and certain Partners managed accounts (the “Partners Managed Accounts”) held an aggregate of 2,104,472 shares of Series X convertible preferred stock (the “Series X Preferred Stock”), convertible for an aggregate of 1,052,236 Shares. Each share of Series X Preferred Stock is convertible into 0.5 Shares. The Series X Preferred Stock may not be converted if, after such conversion, the Reporting Persons would beneficially own, as determined in accordance with Section 13(d) of the Securities Exchange Act of 1934 (the “Exchange Act”), more than 9.99% of the number of Shares then issued and outstanding (the “Series X Conversion Limitation”). As of the close of business on September 30, 2024, the Series X Conversion Limitation limits the aggregate conversion of Series X Preferred Stock by the Reporting Persons to 61 out of the 1,052,236 Shares underlying the Series X Preferred Stock held by the Reporting Persons and the Partners Managed Accounts in the aggregate.

As of the close of business on September 30, 2024, the Reporting Persons and a certain Partners Managed Account held an aggregate of 14,857 shares of Series A convertible preferred stock (the “Series A Preferred Stock”), convertible for an aggregate of 1,039,990 Shares. Each Share of Series A Preferred Stock is currently convertible into 70 Shares. A holder of Series A Preferred Stock may not convert any Series A Preferred Stock held by it or vote such Series A Preferred Stock to the extent that, after giving effect to such conversion or action, such holder, together with such holder’s Attribution Parties (as defined in the Certificate of Designation of Preferences, Rights and Limitations of Series A Convertible Voting Preferred Stock), such holder would own in excess of 9.99% of the Shares outstanding immediately after giving effect to such conversion (the “Series A Conversion Limitation”). As of the close of business on September 30, 2024, the Series A Conversion Limitation prohibits the conversion and voting of all of the Series A Preferred Stock held by the Reporting Persons and Partners Managed Account.

As of the close of business on September 30, 2024, (i) BVF beneficially owned 319,929 Shares, including 61 Shares underlying certain Series X Preferred Stock held by it and excluding 605,211 Shares underlying certain Series X Preferred Stock and 550,900 Shares underlying the Series A Preferred Stock held by it, (ii) BVF2 beneficially owned 322,204 Shares, excluding 386,964 Shares underlying the Series X Preferred Stock and 437,640 Shares underlying the Series A Preferred Stock held by it, and (iii) Trading Fund OS beneficially owned 28,373 Shares, excluding 55,369 Shares underlying the Series X Preferred Stock and 35,980 Shares underlying the Series A Preferred Stock held by it.

BVF GP, as the general partner of BVF, may be deemed to beneficially own the 319,929 Shares beneficially owned by BVF.

BVF2 GP, as the general partner of BVF2, may be deemed to beneficially own the 322,204 Shares beneficially owned by BVF2.

Partners OS, as the general partner of Trading Fund OS, may be deemed to beneficially own the 28,373 Shares beneficially owned by Trading Fund OS.

BVF GPH, as the sole member of each of BVF GP and BVF2 GP, may be deemed to beneficially own the 642,133 Shares beneficially owned in the aggregate by BVF and BVF2.

Partners, as the investment manager of BVF, BVF2 and Trading Fund OS, and the sole member of Partners OS, may be deemed to beneficially own the 703,126 Shares beneficially owned in the aggregate by BVF, BVF2 and Trading Fund OS and held in the Partners Managed Accounts, including 32,620 Shares held in the Partners Managed Accounts and excluding 4,632 Shares underlying the Series X Preferred Stock and 15,470 Shares underlying the Series A Preferred Stock held in the Partners Managed Accounts.

BVF Inc., as the general partner of Partners, may be deemed to beneficially own the 703,126 Shares beneficially owned by Partners.

Mr. Lampert, as a director and officer of BVF Inc., may be deemed to beneficially own the 703,126 Shares beneficially owned by BVF Inc.

The foregoing should not be construed in and of itself as an admission by any Reporting Person as to beneficial ownership of any Shares owned by another Reporting Person. BVF GP disclaims beneficial ownership of the Shares beneficially owned by BVF. BVF2 GP disclaims beneficial ownership of the Shares beneficially owned by BVF2. Partners OS disclaims beneficial ownership of the Shares beneficially owned by Trading Fund OS. BVF GPH disclaims beneficial ownership of the Shares beneficially owned by BVF and BVF2. Each of Partners, BVF Inc. and Mr. Lampert disclaims beneficial ownership of the Shares beneficially owned by BVF, BVF2 and Trading Fund OS and held in the Partners Managed Accounts, and the filing of this statement shall not be construed as an admission that any such person or entity is the beneficial owner of any such securities.

The following percentages are based upon a denominator that is the sum of: (i) 7,038,241 Shares outstanding as of August 8, 2024, which is the total number of Shares outstanding as disclosed in the Issuer’s Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on August 13, 2024, and (ii) 61 Shares underlying certain Series X Preferred Stock held by the Reporting Persons, as applicable.

As of the close of business on September 30, 2024, (i) BVF beneficially owned approximately 4.5% of the outstanding Shares, (ii) BVF2 beneficially owned approximately 4.6% of the outstanding Shares, (iii) Trading Fund OS beneficially owned less than 1% of the outstanding Shares, (iv) BVF GP may be deemed to beneficially own approximately 4.5% of the outstanding Shares, (v) BVF2 GP may be deemed to beneficially own approximately 4.6% of the outstanding Shares, (vi) Partners OS may be deemed to beneficially own less than 1% of the outstanding Shares, (vii) BVF GPH may be deemed to beneficially own approximately 9.1% of the outstanding Shares and (vii) each of Partners, BVF Inc. and Mr. Lampert may be deemed to beneficially own approximately 9.99% of the outstanding Shares (less than 1% of the outstanding Shares are held in the Partners Managed Accounts).

See Cover Pages Items 5-9.

See Cover Pages Items 5-9.

See Cover Pages Items 5-9.

See Cover Pages Items 5-9.

Not Applicable.

BVF GPH, Partners, BVF Inc. and Mr. Lampert share voting and dispositive power over the Shares beneficially owned by BVF and BVF2. Partners, BVF Inc. and Mr. Lampert share voting and dispositive power over the Shares beneficially owned by Trading Fund OS and held in the Partners Managed Accounts.

Not Applicable.

See Exhibit 99.1 to Amendment No. 2 to the Schedule 13G filed by the Reporting Persons with the Securities and Exchange Commission on February 14, 2020.

Not Applicable.

By signing below each of the undersigned certifies that, to the best of its knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.

SIGNATURE

After reasonable inquiry and to the best of his knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct.

Dated: November 14, 2024